By Sabela Ojea
Shares of Willdan Group climbed a day after the company posted higher-than-expected adjusted earnings and revenue for the fourth quarter and its outlook for 2025 beat Wall Street estimates.
The stock was up 21%, to $39.02, in Friday morning trading. Shares have fallen 58% over the past 12 months.
The engineering-services company on Thursday posted a decline in net income for the fourth quarter, but its adjusted earnings--those that strip out one-time items--stood at 75 cents a share, ahead of the 52 cents a share forecast by analysts polled by FactSet.
Quarterly revenue fell by 1.9%, to $79.3 million, but came ahead of analysts expectations of $75.9 million.
Chief Executive Mike Bieber said rising electricity demand and increasing costs are driving growth for Willdan and the company is in a strong liquidity position to fund a strategic expansion.
"The new year is off to a strong start, with good visibility and steady funding on our core programs, bolstered further by new wins and acquisitions," Bieber said.
The Anaheim, Calif., company's outlook for the year surprised investors.
Willdan guided for full-year adjusted earnings of $2.70 to $2.85 a share, and revenue in the range of $320 million to $330 million.
Wall Street forecasts adjusted earnings of $2.36 a share and revenue of $322.5 million, according to FactSet.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
March 07, 2025 11:39 ET (16:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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